BioMarin Pharmaceutical Inc.

BioMarin Pharmaceutical Inc.

BMRNยทNASDAQ

$54.66

+2.5%
HealthcareBiotechnology

BioMarin Pharmaceutical Inc. develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease. The company's commercial products also comprise Palynziq, a PEGylated recombinant phenylalanine ammonia lyase enzyme, which is delivered through subcutaneous injection to reduce blood Phe concentrations; Brineura, a recombinant human tripeptidyl peptidase 1 for the treatment of patients with ceroid lipofuscinosis type 2, a form of Batten disease; Voxzogo, a once daily injection analog of c-type natriuretic peptide for the treatment of achondroplasia; and Aldurazyme, a purified protein designed to be identical to a naturally occurring form of the human enzyme alpha-L-iduronidase. In addition, it develops valoctocogene roxaparvovec, an adeno associated virus vector, which is in Phase III clinical trial for the treatment of patients with severe hemophilia A; BMN 307, an AAV5 mediated gene therapy, which is in Phase 1/2 clinical trial to normalize blood Phe concentration levels in patients with PKU; and BMN 255 that is in Phase 1/2 clinical trial for treating primary hyperoxaluria. The company serves specialty pharmacies, hospitals, and non-U.S. government agencies, as well as distributors and pharmaceutical wholesalers in the United States, Europe, Latin America, and internationally. BioMarin Pharmaceutical Inc. has license and collaboration agreements with Sarepta Therapeutics, Ares Trading S.A., Catalyst Pharmaceutical Partners, Inc., and Asubio Pharma Co., Ltd. The company was incorporated in 1996 and is headquartered in San Rafael, California.

At a Glance

Live Snapshot
Market Cap$10.56B
EPS1.8200
P/E Ratio30.03
Earnings Date08/03/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is elevated (P/E 30.0).

Valuation inputs: P/E 30.0, earnings yield +3.3%, momentum +2.5%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE +5.7%, ROIC +5.6%).

Profitability stack: net margin +10.8%, ROE +5.7%, ROIC +5.6%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile looks controlled across current risk inputs.

Risk factors: liabilities/assets +19.8%, momentum +2.5%, net margin +10.8%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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BioMarin Pharmaceutical Inc. Market vs Earnings Trajectory

BMRN ยท NASDAQ

Loading price and EPS data...

BioMarin Pharmaceutical Inc.

BioMarin Pharmaceutical Inc. Fair Value Envelope

BMRN ยท NASDAQ

Our analysis suggests that BMRN has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $54.66, this represents a potential HIDDEN relative to our calculated worth for BioMarin Pharmaceutical Inc..

Intrinsic Value
Current Price: $54.66
3Y+104.0%
5Y-620.0%
10Y-372.0%
3Y+33.0%
5Y+74.0%
10Y+145.0%
3Y+108.0%
5Y-644.0%
10Y-398.0%
3Y+371.0%
5Y+870.0%
10Y-463.0%
3Y+1219.0%
5Y-1490.0%
10Y-293.0%
3Y+19.0%
5Y+30.0%
10Y+89.0%
BioMarin Pharmaceutical Inc.

BioMarin Pharmaceutical Inc. Profit Bridge

BMRN ยท NASDAQ
Revenue3.22B
Cost of Goods Sold (736.83M)
Gross Profit2.48B
Operating Expenses (1.95B)
Operating Income533.48M
Interest Expense (10.90M)
Other Income/Expense-51.00M
Pretax Income482.48M
Income Tax (133.58M)
Net Income348.90M
Net Income
348.90M

Profitability Analysis

Gross Margin

77.1%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

16.6%

Healthy operating margins demonstrate effective cost control and strong business fundamentals.

Net Profit Margin

10.8%

Strong net margins indicate efficient operations and favorable tax/interest management.

Effective Tax Rate

27.7%

Higher tax burden may reflect limited tax optimization or operations in high-tax jurisdictions.

Profitability Insight

High margin compression: Large gap between gross and net margins suggests operational inefficiencies or heavy debt burden. Focus on expense management and deleveraging.

77.13%
Gross Profit Margin
3Y-1.0%
5Y+4.0%
10Y-5.0%
16.56%
Operating Profit Margin
3Y+116.0%
5Y-471.0%
10Y-1580.0%
10.83%
Net Profit Margin
3Y+56.0%
5Y-412.0%
10Y-222.0%
5.73%
Return on Equity
3Y+69.0%
5Y-482.0%
10Y-238.0%
4.59%
Return on Assets
3Y+87.0%
5Y-531.0%
10Y-282.0%
5.64%
Return on Invested Capital
3Y+110.0%
5Y-540.0%
10Y-591.0%
BMRN

BioMarin Pharmaceutical Inc. Cash Conversion Engine

BMRN ยท NASDAQ
Net Income348.90M
Depreciation & Amortization79.56M
Stock-Based Compensation181.41M
Change in Working Capital-108.68M
Others278.07M
Capital Expenditures-103.04M
Free Cash Flow724.96M

Cash Flow Quality Analysis

FCF Conversion Rate

207.8%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

12.4%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+52.5%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

-$108.68M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.

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BioMarin Pharmaceutical Inc. Funding & Solvency Profile

BMRN ยท NASDAQ
Cash & Cash Equivalents2.22B
Net Receivables903.91M
Inventory1.27B
Other Current Assets205.50M
Total Current Assets5 B
Property, Plant & Equipment958.07M
Goodwill & Intangible Assets400.86M
Long-Term Investments0.00
Other Non-Current Assets1.13B
Total Non-Current Assets2 B
Total Assets
8.59B

Financial Health Analysis

Current Ratio

5.81x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

0.38x

Conservative capital structure. The company relies primarily on equity financing, indicating low financial risk.

Working Capital

4 B

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

54% Current

Balanced asset mix between current and non-current assets, typical of many stable businesses.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

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BioMarin Pharmaceutical Inc. Street Expectations Map

BMRN ยท NASDAQ

Wall Street analysts project that BMRN stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 89.93, with estimates ranging from a low of 50.00 to a high of 120.00.

Lowest Target
50.00
-8.53%
Consensus Target
89.93
64.53%
Highest Target
120.00
119.54%

The consensus 1-year price target stands at 89.93, with estimates ranging from a low of 50.00 to a high of 120.00.

Analyst Consensus Analysis

Upside Potential

+64.5%

Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.

Analyst Agreement

77.8% spread

High uncertainty. Very wide target spread indicates significant disagreement among analystsโ€”major valuation uncertainty or transformation underway.

Risk-Reward Profile

14.02x

Favorable risk-reward. Potential upside significantly exceeds downside risk, offering asymmetric return profile attractive for risk-tolerant investors.

Analyst Conviction

Low

High uncertainty: Wide dispersion indicates analysts struggle to agree on valuationโ€”proceed with caution and independent analysis.

Market Sentiment Insight

High risk, high reward: Substantial upside potential exists, but wide analyst disagreement signals execution risk or unclear catalysts. Thorough due diligence essential before committing capital.

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BioMarin Pharmaceutical Inc. Insider Positioning

BMRN ยท NASDAQ

During the last 12 months, insiders have sold $3.15M worth of BMRN shares, with no buying activity reported.

3 Months

Bought

0

0.00

Sold

19.8K

1.17M

Net Activity

-1.2M

-$1.17M

3-6 Months

Bought

0

0.00

Sold

32.4K

1.98M

Net Activity

-2.0M

-$1.98M

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

No buying activity

Top Sellers

1
DGE

Davis George Eric

Officer: Evp, Chief Legal Officer

26.1K sharesโ€ข1 transactions

$1.60M

2
GCG

Guyer Charles Greg

Officer: Evp, Chief Technical Officer

16.5K sharesโ€ข1 transactions

$997K

3
FGR

Friberg Gregory R

Officer: Evp, Chief R&D Officer

9.6K sharesโ€ข2 transactions

$559K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $3.15M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.00:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Recent Trend (3 Months)

$1.17M

Heavy recent selling activity. Recent insider sales notably exceed purchasesโ€”may warrant investigation into company developments.

Insider Participation

High Selling

3 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.

Insider Activity Insight

Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.

No Dividend Yield Data

BMRN has not reported any dividend yield values in the available annual periods.

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bmrn Dividend History

BMRN
10Y CAGR +0%
Latest $0
Annual $0
Stable dividend payments
Last Period: +0%